Buzz Stocks: LendingClub Corp, Gevo, Inc., and Lululemon Athletica inc.

Today's stocks to watch in the news include LendingClub Corp (LC), Gevo, Inc. (GEVO), and Lululemon Athletica inc. (LULU)

Jun 8, 2016 at 9:44 AM
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U.S. stocks are following crude oil higher this morning, ahead of the weekly crude inventories report. Among equities in focus today are online loan specialist LendingClub Corp (NYSE:LC), energy stock Gevo, Inc. (NASDAQ:GEVO), and yoga apparel maker Lululemon Athletica inc. (NASDAQ:LULU).

  • After popping 6.8% at the open, LC was last seen down 2.1% at $4.30, amid reports former CEO Renaud Laplanche -- who resigned last month in a cloud of scandal -- has been in talks with private equity firms and banks regarding a potential buyout of the company. LendingClub Corp has given up 75% of its value over the past year, and hit a record low of $3.44 in mid-May on news of a U.S. Justice Department investigation. While all but one of 10 analysts currently rates LC a "hold" or worse, options traders appear to be eyeing a recovery for the battered stock. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), LC now has a 10-day call/put volume ratio of 4.43 -- higher than nearly three-quarters of similar readings taken in the past year.
  • GEVO has nearly doubled out of the gate -- last seen up 82.3% at $1.10 -- on news the company's renewable alcohol to jet fuel (ATJ) will be used today for the first time on two commercial Alaska Air Group, Inc. (NYSE:ALK) flights. Longer term, the shares of Gevo, Inc. have been in a steady decline for several years, shedding 71% in the past 52 weeks alone. Short interest on the stock has been building lately, up 57% during the most recent two-week reporting period. However, given GEVO's typically low volume, it would take less than one session to cover the 11.5% of GEVO's available float that's now sold short.
  • LULU may have options traders on edge this morning, last seen up 1.2% at $68.94. Earlier, the company reported first-quarter earnings that came up just shy of analysts' predictions, while revenue easily beat expectations. The stock has now added 31.4% year-to-date -- and is not far from its April 4 annual high of $69.73. Today's post-earnings upside could have short sellers calling it quits. Short interest accounts for 19.3% of Lululemon Athletica inc.'s available float, or more than two weeks of pent-up buying demand, at the average pace of trading.
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